Pfizer Launches Uninsured Prescription Drug
Plan

The New York, New York-based pharmaceutical company
announced plans to provide families without drug coverage
access to Pfizer medicines at an average savings of 37%.
Under terms of the plan, Pfizer will offer uninsured
families earning less than $45,000 a year the ability to
buy medicines at prices similar to those paid by large
purchasers, such as
health maintenance organizations (HMO) and large
employers
. Families without drug coverage making more than $45,000
will be eligible for average savings of 15% off retail
prices if they do not have drug coverage.

Additionally, f
amilies making less than $31,000 per year (less than
$19,000 for individuals) can receive free Pfizer medicines
from their physicians’ offices.
The medications will also be made available at
participating community health centers and hospitals free
of charge to eligible families and individuals.
Medicare beneficiaries will be charged a flat fee of $15
per prescription after they have exhausted a $600 credit
from the federal government.

Enrollment in the program is expected to begin in
August.
Pfizer did not provide the Web site and phone number that
will be used for enrollment at this time.

“I applaud the steps Pfizer is taking today, which will
provide America’s uninsured with access to medicine at
significant savings. Pfizer is helping those in dire need
get the medicine they often require. This effort holds the
promise of helping people in real need, and that is vitally
important,” said US Senator Hillary Rodham Clinton (D-New
York).

Pfizer’s plan comes at a time when health-care rate
increases are expected to be in the double-digits again for
2005.
Consultants Hewitt Associates anticipates HMOs will
hike rates 13.7% in 2005, due in large part to
ever-escalating prescription drug prices (See
Hewitt: HMO Rates Up 14% in 2005
).